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to the president about past conflicts over the deficit reduction. mark and i were talking about how far back we go. it is a few years. and i remembered him of the earlier sessions that we had. gramm-rudman one and two and gran member holland. i've googled it for all of them. and i was thinking there have been two major changes. number one is the dataset that is clearly much greater. the deficit is much greater. when i think of the ways and means committee, would change their has been in the composition. the ranking member at a time when i started went to the world bank. i worked with bill on trade. he was handling the tax material mainly. and bill was working on health care at the time. i think a second major change is very much effective today and affects us today. it is this change in composition of the republican party. i think it has moved very much more to the right. i think that makes it very difficult to handle the problems that we have before us. let me comment briefly on where we are. you offer the president yesterday. we have had spending cuts of a trillion and a half dollars. it comes f
. >> thank you for your time. >> what will the president tell the country on monday about debt and deficit spending and how we get that under control, ben? >> well, i think that the president will follow precedent when it comes to the inaugural address and lay out a broader vision for are where we take the country in the next four years and to talk about how some of our founding principles and values can drive us through the challenges we continue to face. i think the state of the union address will be more of the agenda, more discussion of how we get it done with congress and enlisting the is support of the american public. >> so nothing on monday about spending then? >> well, i can't specifically say that the remarks aren't totally finalized yet. i think what you will see is the broader vision. the specific agenda will come in the days ahead. there was a statement out of the white house on friday addressing the proposal that the republicans have put on the table right now. it looks like they may be breaking the ice a little bit and not holding the nation's full faith and credit hostage f
industry and manufacturing. the second on deficit reform, and the third on improving government performance. the participants here today include brookings scholars, outside experts, and private sector representatives and leaders. our discussions will reflect a lot of the research that goes on here at brookings, and you will be able to find a number of examples of that research outside the auditorium where you came in. my recommended particular, the work of our metropolitan program on ideas on how to revitalize manufacturing, and also the work of art government studies program on how to make innovation-based economy. the growth through innovation project is an example of what we're doing increasingly here at brookings, and that is undertaking both research and public events and outreach that draw from multiple programs of research pro-guns here at the institution. and we have three of our research programs represented here today. the growth through innovation project is led inside a brookings by darrell west of our government studies program, bruce katz, of our metropolitan program of our ec
for the middle class is shrinking our deficit and a balanced and responsible way. for nearly two years now i have been fighting for such a plan, one that would reduce the opposite by four trillion dollars over the next decade, which would stabilize the debt and deficit in a sustainable way for the next decade. that would be enough not only to stop the growth of our debt relative to the size of the economy, but make it manageable so it does not crowd out the investments we need to make in people and education and job training in science and medical research, all the things that help us grow. step-by-step we have made progress towards that goal. over the past two years i have signed into law 1.4 trillion dollars in spending cuts. two weeks ago i signed more than $600 billion in new revenue by making sure the wealthiest americans began to pay their fair share. when you add the money we will save an interest payments on debts, altogether that adds up to a total of 2.5 trillion dollars in deficit reduction over the past three years. not counting the $400 billion already saved from winding down and get
of savings from spending on health care and revenues from closing loopholes, we consult the deficit issue without sacrificing our investments in things like education that are going to help us grow. it turns out the american people agree with me. they listened to an entire year's debate over this issue, and they made a clear decision about the approach they prefer. they do not think it is fair to ask a senior to pay more for his or her health care or a scientist to shut down like that saving research so that a multi millionaire investor can take less in tax rates then a second trip -- and a secretary. they do not think it is smart to protect and as corporate loopholes and tax breaks for the wealthiest americans rather than rebuild roads and schools or help manufacturers bring jobs back to america. they want us to get our books in order in a balanced way where everyone pulls their weight, everyone does their part. that is what i want as well. that is what i have proposed. we can get it done, but we're going to have to make sure people are looking at this irresponsible way, rather than just
class is shrinking our deficits in a balanced and responsible way. and for nearly two years now, i've been fighting for such a plan, one that would reduce our deficits by $4 trillion over the next decade, which would stabilize our debt and our deficit in a sustainable way for the next decade. that would be enough not only to stop the growth of our debt relative to the size of our economy, but it would make it manageable so it doesn't crowd out the investments we need to make people and education and jobs and science research. step by step, we've made progress towards that goal. over the past two years i've signed into law about $1.4 trillion in spending cuts. two weeks ago i signed into law more than $600 billion in new revenue by making sure the wealthiest americans begin to pay their fair share. when you add the money that will save in interest payments on the debt, altogether that adds up to a total of about $2.5 trillion in deficit reduction over the past two years. not counting the $400 billion already saved from winding down the wars in iraq and afghanistan. so we've made pro
set our country on a path that will allow us to get our debt to g.d.p., our deficit to g.d.p. down around 3%, which is the basis of all economists left, right and septemberer all agree on the areas we can begin to grow as a country. and as my grandfather used to say with grace of god and goodwill of the neighbors, cooler heads will prevail now between now and the time we deal with the debt ceiling and we may meet the goal which we set out to do, which is to have roughly a $4 trillion cut over 10 years in the long-term deficit and to put us on that path. but i didn't come here to talk about any of those important subjects today, because as important as they allr today we have a more urgent and immediate call and that is how to deal with the epidemic of gun violence in america. you all know the statistics better than anyone so i'm not going to repeat them. on that score, i owe an incredible debt of gratitude to you at the head table and those of you in the room. i know we don't have you nan hit in this ballroom nor do we in any ballroom, but we all acknowledge that we have to do some
our deficit and a balanced and responsible way. for nearly two years now, i have been fighting for such a plan. one that would reduce our deficit by four trillion dollars over the next decade which would stabilize our debt and our deficit and sustain us for the next decade. that would be enough not only to stop the growth of our debt and the size of our economy and make it manageable. education and job training in science and research and all of those things that help us grow. step-by-step, we have made progress towards that goal. over the past few years and signed into law 1.4 trillion dollars in spending cuts. two weeks ago i signed into law more than $600 billion in revenue by making sure the wealthiest americans began to pay their fair share. when you add the money that we will save in interest payments on the dead altogether that adds up to a total of about 2.5 trillion dollars and deficit reduction over the past two years. not counting the $400 billion already safe from winding down the wars and i rock and afghanistan. we have made progress. we are moving towards our ulti
and debt payments from lower deficits, as a spending cut. that's a dubious claim. number three, obama is counting a nearly 1 trillion dollar savings from more money than nobody expected to be spent anyway, now that the war in iraq is over and the afghanistan war is winding down. so, obama's entire premise that we need a balanced approach to cutting the deficit is based on a huge fiction which is that obama's plan will cut 4 trillion during the the next decade. it will do no such thing. he's basing on a falsity, just like day one when he's been in office, distort and pr propgandize. now, republicans need to understand all of this dealing with obama. they're dealing with a man who is reckless, ruthless as any president they will ever encounter and my next guest says he has a plan that mr. bolster the republicans hand when it comes to dealing with the democrats on the issue of debt and much more. ohio senator rob portman is here. and what do you make of obama, only 2006 a vote against the debt ceiling. >> it went further than that. he said it would be unpatriotic. >> sean: that's another
the deficit and immigration and gun safety and i don't think he's going to be very frustrated if washington is completely divorced from the reality in the country so he's going to seek common ground. he's going to find every way to compromise but he's going to be pretty clear and we're also going to bring the american people more into the debate than the first term. >> what's the big difference in the president obama that took the oath four years ago and tomorrow. >> there's atmospheric differences. we had an economy collapsing all around us and he was a first term president and still putting together his team and agenda and cabinet and still the economy is too weak but recovering and the question is right now building on that as opposed to simply trying to stem the bleeding. big difference and i think the experience of the office as you know. you know, that helps a lot and so i think he does have even more sure-footedness in his approach. >> it can become a bit of a burden. historians write about the second term curse and i know you and your team spent a lot of time studying how to avoid t
, although for instance if you think 40% of gun sales are done through private transactions, if that deficit may be the sales to move to retailers or licensed its readers that already do these sort of things. lori: is it frontloaded though? everybody rushing to the stars s before the announcement today. charles: that has been the trend. as an investor you have to worry about maybe a year from now the stocks, a tough comparison because you can't have every single month a record, people doing background checks. one thing that was interesting in the earnings report i thought was remarkable for the first nine months of last year gone background checks were 32%. distribution of 60%. they are running way ahead of background checks and this kind of shows you absolut tremendous demand out there for this. tracy: is it global distribution or just gunmakers? if it is global because before the united states last few weeks. charles: i think this is mostly a domestic story, but by having said that you look at a stock today. the high is a 52-week high of 60, so the stock already took a pretty good hit on
that deal with the deficit and also have a vision and the stability in what is going to happen in terms of the voting of economic growth. estimate what the peak to the cut a piece of that. the spending on health not necessarily the biggest cost of the deficit right now but if you look at 20 years, for 30 years it is the alligator that is going to swallow everything. i was on a panel last week and there was a lively argument around should we raise the age for medicare, should we try to change the system and have a fee for service, has the obama administration done a lot to lower the cost of health care going forward so we don't need to do much more? what do you think is in practical terms what needs to be done on health care if you poll people they say we all want to cut medicare celerity want to go dealing with that piece of the puzzle? >> that reminds me when i was in graduate school i went to study foreign policy and was right around the time they balanced the budget and i thought my gosh what am i going to do? so i realized the long-term problems were still there and i had to make a
in nearly the past three years, and the whole fiasco added to the deficit. host: after the news conference yesterday, house speaker john boehner responded with this statement -- " what are your thoughts on this? if the debt ceiling negotiable. some quick comments -- remember, you can post your comments on twitter. the first phone call is from maryland, a democratic caller, jill. caller: i don't believe the debt ceiling is negotiable. it is kind of ridiculous that the money is already owed, so why are we not going to pay what is owed to other people? if people have made investments, the bills have to be paid. i find it ridiculous that people in congress don't want to pay what is already owed. it does not make sense. host: here is the wall street journal this morning. caller: well, if you're asking me if that's true, i think there definitely needs to be somewhat of a compromise as far as spending cuts, but that is not an easy issue, because spending cuts mean job losses. it's not an easy thing to say a president will say we will stop paying the bills too. so there has to be compromised rehab
to do to reduce the budget deficits and also deal with the trade deficits, but even more importantly, what do we do to create an environment where businesses can grow and we can expand economic development? because this is still a very, very fragile expansion, though it is a expansion from probably the deepest recession we've ever been in wince the depression. a lot of pent-up demand, so i think this debate is centered on the right thing, what do we do to create an environment where businesses can grow. >> if we need and if republicans argue that what needs to be done is to cut the deficit, they need to perhaps go into default, are you okay with that? ivities illustrates well again i think we need to look at that time it through the lens of economy development. anything to slow this expansion down would have very, very serious consequences to all of us. >> let me ask you about your announcement last week. you were going to hire engineers, computer programmers. last year you announced to add 12,000 jobs by 2015. given everything that's going on, how confident are you that you'll still
to see him as the paragon of responsible spending. >> we'll start with the deficit, shrinking more rapidly than at any time since the end of the korean war. in the end of december, we had a deficit for the month of $260 million, not $260 billion, $260 million. which in washington is almost the budget. that's the smallest monthly deficit in five years. some of that is artificial. people pulling transactions forward because they were afraid of higher tax rates in 2013. but for the first three months of 2013, we have a rapidly shrinking fiscal 2013, we have a rapidly shrinking deficit. so we are in a way chasing a vanishing problem. >> which is interesting, and that would allow for some things that are dirty and things that are not so dirty, would completely perhaps get rid of this problem after a while. do you think we're headed for a full stalemate? >> it's such a shame. i think david is right because we have low debt service right now. we're paying less interest on our debt than we had in the reagan and bush administrations before because interest rates are so low. >> but they're g
, particularly when you're in a deficit, the treasury of the united states would have to go out and issue bonds in order to get cash to pay for it. and that was just a cumber some, awkward thing to do. what they did was create this debt cerealing which meant t ce could issue bonds for chunks of money not related to every single law that was passed. it was just because it was cumbersome. it is not a debt control or spending control measure. the president used an analogy today, used many, to say this is like eating at a restaurant, having your fill and not paying the bill. if you want to discuss -- >> dine and dash. >> yes, dine and dash. we have two problems. one is we have to understand the terms of this thing. this is about increasing the treasury's ability to pay for things that have already been committed to by the government. the danger is if you have this discussion about not paying it, those who lend you money seem to think you're not serious about this. imagine having this conversation with american express on the line. we weren't supposed to eat out that much last month. we're only goin
, we have some political divisions in this country. there's vast support out there for balanced deficit reduction, investments in education and manufacturing, immigration reform, gun safety. so on the issues the president intends to really push and focus on, there's massive support in the country, even among republicans. let's not lose sight of that, and that's why we're going to do a better job in the second term-- while we're going to do all we can to work with congress and negotiate, to also make sure the american people are connected to what's going on here. i think to really get the kind of change here in washington the american people are going to demand it. but there is really, i think, consensus around eye lot of the issues around the country >> what about the idea the republicans have said they will go along with the three-month extension on the debt ceiling, increase? are you going to be-- does that help? >> well, it's helpful that they have now dropped their demand, that the only way they're going to pay the country's billes, they themselves racked up, would be to extract som
a complex environment. you don't speak the language and you have cultural deficits. it is almost impossible to develop the contextual understanding that you need. you have to understand if you're trying to impact a society. >> in other news, the militants said they have executed a french hostage captured in 2009. french armed forces tried to rescue him last saturday but failed. they executed him on wednesday evening and they say he was probably killed during the rescue attempt. the country now has a steady government. the united states recognizes them for the first time in 20 years pillar in -- 20 years. lance armstrong has been stripped of his mettle. the committee acted after the governing body found him guilty of systematic doping and stripped them of seven wins. there is speculation as to whether he will lead men to open or apologize. extremists are gaining ground militarily and they're also winning popular support. it has become increasingly powerful. the free syrian army is living in kidnapping. they met one of the leaders of the front and found this exclusive report. >> they are wait
can't finish the job of deficit reduction through spending cuts alone. simply put, the president got his tax increases in the last congress. it's time for this congress to tackle washington's spending bing. i'd like to recognize the gentlelady from indiana. >> mr. chairman, my message otoday is simple. on too many big items, congress has been kicking the can down the road for years. it's time to supply real leadership on the most pressing challenges we face. this is the only way we can restore trust in congress. we're fast approaching a dead end. the social security trust fund will be bankrupt in 20 years. medicare and medicaid are not on a sustainable path. it is wrong for us to make proppingses to the american people we know we cannot keep. ms. brooks: we must address the drivers of our debt, medicare, medicaid, an social security. not because these programs don't have merit and certainly not because seniors currently benefiting from them don't deserve with they've been promised. because real leadership isn't about making the easy choice, it's about maybing the right choice. social
of deficit reduction, a little short of 4 trillion we need, but he would have the american public believe he's significantly reduced our deficit as president. >> which makes you wonder why we need another 2 trillion dollars so desperately now as we are getting ready for the beginning of his second term. obviously, that's 2 1/2 trillion that is, well, fanciful in my opinion and ethereal in others and it's not a reduction in baseline, it's a reduction in the rate of growth of spending, which is again suffocating to the private economy and unsustainable over the course of the next several years. >> megyn: one thing we did hear the president reference personally, we heard it from nancy pelosi prior, but the president personally talking about now closing more loopholes and that means higher taxes. we don't know on who, but he would not specify any specific spending reductions and refusing to negotiate with the house republicans on the issue of the debt ceiling. lou, an interesting couple of months. looking forward to it. >> megyn: all right. thank you, sir. >> thanks, megyn. >> megyn: with the pr
, they are about half way there in deficit reduction, and that modest changes to health care, entitlement spending could accompany the closing the tax loopholes. a marker on a future negotiation. house speaker bane says in response that the house does it job and passes responsible legislation that controls spending, meets our nation's obligations, and keeps the government running. we will insist that the democratic majority in washington do the same. republicans on thursday will have their annual conference retreat in williamsburg, virginia to discuss their debt ceiling strategy moving forward. back to you. >> and speaking of responsible bookkeeping as the president was, you're just getting word the president's budget won't be delivered by the february 4th deadline; is that right? >> yes. a spokesman for the house budget committee confirms the white house communicated to them they will not get their budget to the white house on time. this is a deadline they met in the past, although, it's not like the white house will not come out with their budget. releasing the budget. thanks so much. >> from wa
approach to cutting the deficit and huge fiction which in a plan will cut $4 trilin in the next decade, it will do no such thing. he is basing his argument on a falsehood which is what he's done is lie, distort. and what this showed us is that obama in the second term is going to be worse than obama in the first term. what we saw in one hour was the worst of our president on display. and republicans, they need to understand all of this dealing with obama. a man reckless, ruthless, and any president they will ever encounter. my next guess says he has a plan that will bolster the republicans plan. ohio senator is with us, how are you? >> great. >> sean: first, what do you make obama? only 2006 vote against the debt ceiling. now? >> he said would it be unpatriotic to vote to. >> sean: that is another thing. very that clip. do you want to see it? >> sure, it will be fun. >> sean: let's show the videotape. >> the problem is the way bush has done it over eight years is to take out a credit card from bank of china in the name of our children, driving up our national debt from $5 trillion for
in spending in exchange for raising the borrowing limit. he says trimming the budget deficit should be a different discussion. >> to even entertain the idea of this happening, of the united states of america not paying its bills, is irresponsible. >> house speaker john boehner responded to this by saying the american people do not support raising the debt ceiling without reducing government spending at the same time. you can see the battle lines there very clearly. are you in hawaii or headed there? think twice. beware of getting in the water. check out this video. that's right, sharks near oahu's yokohama beach, two sharks were spotted swimming very, very dangerously close to the shore. i hope that guy's feet are not in the water. >> wow, that is super shallow. >> if steve stockman was serious he would have mentioned secession. secession is the line -- >> that's so old. >> i'm just saying. >> don't open any can of worms when i need to go to a break. >>> polls are showing more americans support tougher gun control laws. is there any common ground in washington, d.c.? we'll talk with
't have a deficit and debt crisis the way we do right now. let's be fair about the facts. we are in a debt crisis. however, when something like this happens, it's an exception to the rule. these people are hurting. they need the help of the federal government, and that's what we're going to deliver today. the bottom line is we're going to move forward and get this done. >> you know, i have been blessed to get to know some of the really good people up in your borough like teddy atlas and your borough president. they're doing great work. tell us how bad it is. we're looking at pictures of the people under water during the flood. have just been devastated. i saw some of that stuff on your own island of staten island a couple weeks ago, it was really rough. >> it's horrendous. this is a war zone. let me be clear, don't forget about -- you see homes crushed. you see people's personal belongings wiped out to sea, but there's also emotional scars that you cannot see. just this past weekend i had a mother tell me her children are deathly afraid when it rains because they think there's going to be
in the economy. they worry about interest rates going up and they worry about the impact on our deficit. because when interest rates go up, that means the deficit will go up. so we make the problem worse by taking this route if we go down this pathway. >> i want to throw three terms at you that we've had to stomach out in america. debate over the fiscal cliff, the debate over the debt ceiling and the budget show dunn. all three of these very serious. but which is the most serious. >> the debt ceiling could do damage to our countries for decades to come if we hit it and don't expect the problem. this is the most dangerous thing. this is almost a nuclear option. this is really playing with very dangerous things. and one little mistake could be devastating to our country. >> and yet you still come on day after day and smile with me. thank you. always good to see you. >>> by the way, i just want to remind you if you're doing the math, the treasury says it might come up short in its payments as soon as february 15th. ♪ [ male announcer ] some day, your life will flash before your eyes. make it wort
to scare people and distract from the main issue. he said he was going to cut the deficit his first year in office we doubled it every year. it's time to make hard decisions. there is ongoing wrong with suggesting over the next ten years, we stop borrowing from our children's future and we balance our budget. we can do that. i think most americans will agree. >> neil: you got to wonder, if the mainstream media that republicans are being obstructionists if they dare reject raising the debt ceiling but they didn't do it to a single democrat seven years ago including senator barack obama, then republicans are damned no matter what they do? >> it's part of the strategy of this administration on fiscal cliff, on all kinds of issues is to frighten people, frighten seniors. we need to reassure seniors with their truth, their social security and medicare is going to get paid unless the president is completely irresponsible. interest on our debt is going to get paid and our credit rating is likely to stay where it is if we cut spending rather than blow through another debt limit without making th
the challenges of the deficit and the debt, and also to get a budget. we haven't had had a budget in a long time. i hope he will step up to responsibilities to be a president that is inclusive rather than exclusive and focus on the word, we can do it together. >> eric: this morning, on fox sunday, it's common ground and grand themes, but look -- and compromise. his campaign organizing for america they changed that organizing for action. he will be pushing his policies. how does that square with the theme of common ground? >> i think it's a little inconsistent. president should be listening to people who won election during the last cycle. there were a lot of republicans that won pretty solid elections and now serving. i want to make sure the president is inclusive with the word we, and he has to try to find common ground with them rather than stand with home common ground. >> eric: how about dealing with the debt ceiling and mr. boehner he won't negotiate anymore? >> the president is going to have to reach across the aisle and demonstrate sincerely he will listen and work. he has to show up for
for the taxpayers' use or the expression goes, to reduce the federal deficit. >> thank you, gentleman. i yield back, mr. chairman. >> mr. hastings. >> i don't have any questions. >> thank you very much. without a doubt of funds, which i'm working on, -- [inaudible] [laughter] >> thank you, mr. chairman. i ask that the gentleman, i know he's speaking on behalf of the constituents when we bring the amendment to the bill, the size of the package with the addition of your amendment, becomes larger than many entire appropriations bills. $60 billion. that's larger than homeland security appropriations bill. mr. king, that's larger than the financial services appropriation bill. that's larger than the state department foreign operations appropriations bill. these are bills from which this congress deliberates for months. hearing the chairman say before you came up to testify that he was committed to making sure that your folks get those things that they need. hearing the priorities that everyone has laid out, knowing these are not optional things that are needed, these are mandatory things that are need
reduced the federal deficit even by a dollar. we are not going to get out of this overnight. this would allow us to keep reducing the deficits. we have a shared value in eliminating waste, fraud, and abuse. we are intent on that. host: how much of the budget does waste, fraud, and abuse make up? guest: i could go back to virginia beach, virginia, and we could identify waste every day. we will never eliminate it entirely. we can do a better job. it will take reforms. we are living longer and we have fewer people paying in. i want to protect those who are hurting the most, like art, who called in earlier. host: lester is a republican. caller: good morning. disability, 63 years old. my wife still works. $45,000 a less taw less than year. somehow someone is going to have to do something about this. guest: i agree completely. i believe it is immoral for one generation to pass on debt that dims their future. those who have served our country -- i am mindful of the price paid by our goldstar families. we're failing the young people. i am with you. i was over it. i believe when americans are gi
house caprettto prioritize the government's bills. guest: we have had some deficit reduction. as the president laid out a couple days ago, we have had over $2 trillion. we had 1.5 trillion that came from previous actions. and then we added just a few days ago some further deficit reductions through some increased taxes on the very wealthy of this country. so we have already begun to undertake a deficit-reduction. to use that as a reason to use the debt ceiling as a weapon is really playing with fire. they say pay some bills and not pay others. we have never tried that before. host: is it feasible? guest: i don't think so. which bills? social security? veterans? people out fighting for this country? which bills you pay? we never tried that. i think the president put it so well. this is not a dead beat nation, really. i think common sense is likely to prevail within the republican ranks. i know firsthand, second-hand, but much of the leadership within the house republican caucus, some of them realize the potential consequences. host: if president obama won on the fiscal cliff d
of all, we've had some deficit reduction. the president laid out a couple days ago. we had over $2 # trillion. we had a trillion and a half that came from previous actions, and then we added just a few days ago some further deficit reduction through increased taxes on the very wealthy of this country. we already begun to undertake deficit reduction. to use that as a reason to use the debt ceiling as a weapon is really playing with fire. they say pay some bills and not pay others. we've never tried that before. >> host: is it feasible? >> guest: i don't think so. which bills? social security? veterans? people out fighting for this country? which bills do you pay? we never tried that. i think the president put it so well. this is not a debt beat nation, really, and i think common sense is likely to prevail within the republican ranks. i know, if i might say so, if not firsthand, second hand, that the leadership within the house republican caucus, not all of it, i think some of it realizes that the potential consequences. >> host: if president obama won, so to speak on the fiscal clif
, is look it would add to the deficit whether you were north of south, it doesn't matter. we have only paid for a small amount in terms of offsets for any of these storms. from 2003 to now, in 2003 we had a rule under different circumstances, we had to find some money or find the revenue to pay for it. >> stephanie: right. >> but this is an emergency. we are 80 days into this now. you know how many homes have been damaged and destroyed? i think it's like close to 350,000 homes. >> stephanie: yeah. >> the power outages in new jersey, two -- over 2.5 million no power. i mean i go down the whole list. >> stephanie: right. and it's winter back east encase encase -- in case people haven't noticed. it used to be we are just americans. but look at yesterday, look at yesterday, when there was a tragedy, we used to try to figure out how we come to the table. literally there are people accusing the president of being like saadam hussein, and using children as human shields. >> yeah, they will stop at nothing. we have more ideologues now in the congress than we had in the 112
a conversation about how to redust our deficit let's have that. we've been having that nor the last two years. we just had an entire campaign about it. by the way the american people agreed with me that we should reduce our deficits in a balanced way that takes into account the need for us to grow this economy. martha: bob beckel is former democratic campaign manager and cohost of the five. mary katherine ham is editor at large and fox news contributor. why do you think it was so testy yesterday? >> obama's best form is not necessarily a press conference which is why he does than do many of them. i which he was testy for one real reason. the republicans trying to take the full faith and crucify the united states currency and putting it at fist being. i'd invoke the 14th amendment, we'd problem below know that if we spent more time with the republicans wasting time on the floor of the house. i thought he ought to raise it and to hell with congress. martha: we talked to stewart varney and kirsten said in that sound byte, this isn't about default, people don't think we aren't going to pay the debt o
the debt ceiling. this is the question we posed. is reduce the federal deficit a worthy goal? this is interesting you may recall white house press secretary made news by stating that deficit reduction is, quote not a worthy goal onto itself. 77% of voters disagree with them and that includes large majorities of republicans, independents and democrats. what is your take on this? >> again i don't want to be a downer here, the question is what urgency to do they place on that. we had an election two months ago where there were two candidates, one was more focused on cutting the deficit and reducing our long term debt and one didn't think it was a big concern. the one who didn't think it was a big concern won the election. yes, voters seem to say that is an issue they agree with, but when it came to election day two months ago that certainly wasn't one of the top issues they voted on because they voted for the candidate who wasn't embody go it. >> heather: through his actions, as well. that leads to this, how f or if it should be raised? should the debt limit be raised again, 23%
a deficit. they have no idea that we've got tons of revenue but that spending is at a ridiculous level now. 25% of gdp. it needs to get down to 17% of gdp. nobody has explained this to the public properly or convincingly. >> aunder your favorite presidet the debt has gone from roughly 10 trillion to 16 trillion. we just had the treasury numbers out yesterday. in fact, in the last year it went up again 1.3 trillion. now, this leaves an opening for the republicans. but i don't think they're smart enough to take it. and i agree with costa. actually, the president, who is a very clever political guy, they're letting him get off because he doesn't want to cut 13e7bding. mark is right. except smash the defense department. the rest of it, the entitlements, the discretionary, the little entitlements, he doesn't want to touch them. >> i don't know. was there a question in there? >> i think somewhere. somewhere there's a question. >> i don't know what to say. i guess spending is not what the democrats run on. i see this repeatedly. this is the republican party platform. when the democrats propose sp
. he will have to talk a lot more in the state of the union about deficit control. we have this new fox poll out tonight to. people are upset about fiscal cliff deal. when asked if their paycheck is smaller this year because of more taxfuls being taken out 60% say yes 25% say no. he is going to have to talk about more deficit reduction. they will do a will little partying this weekend they real lives it's right back to work, bill. >> word of a solution to prevent the united states from defaultingen its debt. the house majority leader eric cantor saying that lawmakers will vote next week on a short-term plan to let the government borrow more money effectively raising the debt ceiling. the deal not all worked out just yet. but apparently it this will not require the spending cuts that house republicans had wanted. just released fox news poll finds that 69% favor raising the debt limit only if there are major spending cuts involved. and 23% say it's reckless not to raise it regardless. the poll also shows more than 8 in 10 think government spending is out of control. only 11% believes it's
an indepth look on how to plan, how he plans to fix the deficit and whether or not it's going to work as he suggests. during sleep train's huge year end clearance sale, get beautyrest, posturepedic, even tempur-pedic mattress sets at low clearance prices. plus, get free same-day delivery, set-up, and removal of your old set. and through monday, get 3 years interest-free financing on selected models. but hurry, the special financing offer ends martin luther king, jr. day. don't miss the year end clearance sale at sleep train. superior service, best selection, lowest price, guaranteed. ♪ your ticket to a better night's sleep ♪ >>> president obama struggling with the debt ceiling, that's always a fun comedy premise. wow. this will be good. debt premise. no, president obama told congress it must raise our debt limit because the u.s. is, quote, not a deadbeat nation. yeah. and the president added, by the way, if china calls, i'm not here. >> conan o'brien poking fun at the latest financial crisis. comedians, of course, joking about it. the country's debt, one of the big issues facing the pre
money on the movie theater. >> it is nice but nothing compared to the 45.$8 million deficit this city is running. when they filed for bankruptcy they had wanted to $50,000 in the citibank account. john: the politician said we did not see it coming. they owed 46 million with panetta thousand of the bank? >> they're required to put 1.8 million dollars per month into koppers. john: they tried to raise money through fees like expensive parking tickets. >> i paid $500. >> but he was going 90 in the school's own. john: with that does not cover the pension obligations. >> not sandy know, vallejo, a compton, a stockton or any of their city. they are failing. john: i hear there is more civil society? volunteers working in the animal shelter, park maintenance, a neighborhood watch is starting to blossom? >> bay plant their city back. they take it themselves. so the private solution is always better. john: that is where you go when the government spends of the many. next we take this problem and see what it does to the whole state. it is not pretty. you know how to mix business... with business.
began the fiscal year with $876.05 in the bank and a projected deficit of $500 million, even after taxes had been increased. i think a number of you remember that as well. working with the legislature, we ended last fiscal year with a $500 million ending balance, a billion dollar swing to the good and we paid off all of our callable bonds. good job, legislature. [applause] we are now in a strong fiscal position. the last decade was unfortunately a lost decade where kansas lost thousands of private sector jobs while the rest of america grew. in december 2010, our unemployment rate was 7%. today our state's unemployment rate is 5.4%, the 10th lowest in america, and wichita state university projects we will add more than 24,000 private sector jobs in the state this year alone. that's good news. [applause] when i started as governor, we had the highest state income tax in the region, now we have the 2nd lowest and i want us to take it to zero. look out texas, here comes kansas. [applause] in the previous decade, we had population losses of more than ten% in nearly half of our counties. today
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